CDX sees opportunities on eastern San Juan basin properties

CDX Gas LLC, Dallas, completed the acquisition of a portion of BP America Production Co.'s eastern San Juan basin oil and gas assets at yearend 2003 for $99 million.

Jan. 27, 2004

By OGJ editors
HOUSTON, Jan. 26 -- CDX Gas LLC, Dallas, completed the acquisition of a portion of BP America Production Co.'s eastern San Juan basin oil and gas assets at yearend 2003 for $99 million.

The properties are on 26,000 acres of leases on the Jicarilla Apache Indian Reservation in Rio Arriba County, New Mexico. About 250 wells are producing from six pay zones, mainly Cretaceous Dakota and Mesaverde.

The acquisition brought CDX's San Juan basin production to more than 20 MMcfd, and CDX believes the acquired acreage contains significant developmental and exploratory drilling opportunities.